Medicare for the disabled: If I don't want Part B, will I face penalties later on?

[mrbean9]

I'm disabled, under 65, and just got my Medicare card with the option to drop Part B. I have a question about that. If I deny Part B coverage, will I face the 10% lifetime penalty for every 12 months I don't sign up? Just read about that, and man is it a brutal penalty. I read something vague about this penalty being waived if you have insurance coverage from another source. So would I be free from the penalty?

I get commercial medical and dental insurance through my ex wife's employer right now, and would prefer to just stick with it until our divorce is finalized, and then sign up for Medicare Parts A, B, and D once the divorce is final, cause her plan's COBRA is extremely expensive. My Medicare premiums are very high for 2022 due to our 2020 income level and I'd rather not deal with paying for Medicare now. My ex wife is an active employee at her company, which has more than 100 employees.

If I'm able to avoid the penalty, would the finalization of my divorce serve as a life qualifying event that allows me to sign up for Parts A, B, and D outside of the general annual enrollment period? I foresee our divorce being signed by a judge sometime this fall—courts are backed up due to Covid.

 

[adjusterjack]

Here's an explanation of the penalty. Yes, it's brutal. The government wants that money from the getgo and will take it out of your hide if you delay giving it.

Part B late enrollment penalty | Medicare

The following site explains the exceptions to the penalty. Note that it is NOT the Medicare site so you will have to check further as to its validity before making a potentially costly decision.

Medicare Part B Penalty Exceptions | ClearMatch Medicare

 

[mrbean9]

Thanks I saw that page as well. How do I validate this? Call the Medicare office and ask them to send me something in writing? I never trust what individual agents tell me on the phone anymore since they so often make mistakes

 

[goillini52]

Thanks I saw that page as well. How do I validate this? Call the Medicare office and ask them to send me something in writing? I never trust what individual agents tell me on the phone anymore since they so often make mistakes

If you don't trust agents, why would you come on a forum of agents and ask for advice?

 

[policywunk]

I'm disabled, under 65, and just got my Medicare card with the option to drop Part B. I have a question about that. If I deny Part B coverage, will I face the 10% lifetime penalty for every 12 months I don't sign up? Just read about that, and man is it a brutal penalty. I read something vague about this penalty being waived if you have insurance coverage from another source. So would I be free from the penalty?

I get commercial medical and dental insurance through my ex wife's employer right now, and would prefer to just stick with it until our divorce is finalized, and then sign up for Medicare Parts A, B, and D once the divorce is final, cause her plan's COBRA is extremely expensive. My Medicare premiums are very high for 2022 due to our 2020 income level and I'd rather not deal with paying for Medicare now. My ex wife is an active employee at her company, which has more than 100 employees.

If I'm able to avoid the penalty, would the finalization of my divorce serve as a life qualifying event that allows me to sign up for Parts A, B, and D outside of the general annual enrollment period? I foresee our divorce being signed by a judge sometime this fall—courts are backed up due to Covid.

You have 8 months from the date you lose your spouse's coverage to enroll in part B special enrollment without penalty .

 

[mrbean9]

If you don't trust agents, why would you come on a forum of agents and ask for advice?

I mean customer service agents who handle inbound calls for all sorts of orgs. In the last week alone I've gotten misinformation from agents at Roku, Spectrum, and Verizon.

 

[mrbean9]

You have 8 months from the date you lose your spouse's coverage to enroll in part B special enrollment without penalty .

Thanks, that's good news. Can my wife's employer's plan at Anthem require me to sign up for part B once I'm eligible? Or is it entirely up to me? Would her employer even have a way of knowing that I've become eligible?

 

[vic120]

If you don't trust agents, why would you come on a forum of agents and ask for advice?

Bingo

I hate those lead who ask 1000 questions then say they only want to sign directly without an agent

Doesn't happen too often but it still

 

[Travis Price]

Bingo

I hate those lead who ask 1000 questions then say they only want to sign directly without an agent

Doesn't happen too often but it still

If you want to go direct.. it's your job to go and do the research...

Once someone says they want to go direct (or leads me to that conclusion) we're done. My advice is free to prospects, but my time is not free.. prospects just don't pay me.

 

[mrbean9]

If you want to go direct.. it's your job to go and do the research...

Once someone says they want to go direct (or leads me to that conclusion) we're done. My advice is free to prospects, but my time is not free.. prospects just don't pay me.

I think you all are confusing my words. See above. I was talking about customer service reps, not insurance agents. That’s why I came to this forum, to talk to experts. I don’t want to go direct, I don’t want to elect Part B at all. Down the road when I lose my spouse’s coverage I’ll work with agents to find a good deal for Medicare and supplemental plans, and I’m far more likely to connect with an insurance agent in the future who helped me understand my current situation. Good karma.